Quite frankly I think the only reason crypto went down so much over the weekend was that it's accessible to trade over the weekend and the New York stock exchange is not. So when the Japanese market crashed everybody got scared and thought the US market was going to crash so people sold their crypto so they would have cash in hand when their other assets went down or possibly buy some stock when it went down. But then Monday morning guess what no New York stock exchange crash. So now Bitcoin is recovering because it is now the best asset to buy for maximum short-term gain because it didn't want it or two day drop of about 15% and usually when that happens within a week it's back up to where it was. By the way crypto is still up over 50% from what it was at the beginning of the year and that makes it the best investment of all investments this year.
Nvidia is down because guess what they don't make their own chips somebody else make some and they can't sell chips they don't have and the company that makes the chips is saying there's going to be delay in the delivery which is always been a weakness of nvidia. They simply designed the chips send them to another company that makes the chips so in videos always had this vulnerability of that.
Yeah we'll see. I don't think we've really gotten the spike from The happening that normally would be continuing to trend upward and this is kind of interrupted that. But the other thing that's happened is all the ETFs have made the pricing much less volatile in a way.
The fact of the matter is Bitcoin is getting harder and harder to come by and since it's been generally accepted by countries and large investment institutions all the forces of nature and finance and economics mean that it's likely to continue to have a trend upward in price with less and less gigantic spikes and lulls.
Bitcoin is turned out to be the piggy bank for lots of people so when shit hits the fan another areas a lot of people cash out some of their Bitcoin to pay for the other problems and that's why we have started to see Bitcoin be correlated with some other market indicators.
I don't know usually these things tend to slam down in the first day if they're going to crash because all the contracts are forced into capitulation and forced selling. And the fact that that didn't happen means there's not going to be a lot of pressure on it to go down further. Now there may be some gradual creep down because of the general economic conditions but nothing like the crash of 1987 or the 2008 crash or the com crash of what the 1990s?
Minero's sort of been horizontal since it did a $400 peak back 2 years ago. It has not seen the general upward trajectory that Bitcoin and other cryptocurrencies have primarily because so many outlets have made it very difficult to buy monaro and it's an extremely complicated coin even for crypto. Take all the issues that used to exist for buying Bitcoin before it became commonly traded on easy platforms and multiply those by 10 and you've got monero.
[ + ] HonkyMcNiggerSpic
[ - ] HonkyMcNiggerSpic 3 points 10 monthsAug 5, 2024 12:49:58 ago (+3/-0)
[ + ] PotatoWhisperer2
[ - ] PotatoWhisperer2 1 point 10 monthsAug 5, 2024 13:00:19 ago (+1/-0)
https://files.catbox.moe/yiy8t1.jpg
[ + ] Sector2
[ - ] Sector2 1 point 10 monthsAug 5, 2024 14:47:03 ago (+1/-0)
Bitcorn went from $61K to $50K. Bounced to 55, but headed down at the moment.
[ + ] Crackinjokes
[ - ] Crackinjokes [op] 0 points 10 monthsAug 5, 2024 15:58:24 ago (+1/-1)
The fact of the matter is Bitcoin is getting harder and harder to come by and since it's been generally accepted by countries and large investment institutions all the forces of nature and finance and economics mean that it's likely to continue to have a trend upward in price with less and less gigantic spikes and lulls.
Bitcoin is turned out to be the piggy bank for lots of people so when shit hits the fan another areas a lot of people cash out some of their Bitcoin to pay for the other problems and that's why we have started to see Bitcoin be correlated with some other market indicators.
[ + ] FreeinTX
[ - ] FreeinTX 1 point 10 monthsAug 5, 2024 12:40:15 ago (+1/-0)
4.5 since Thursday. And it isn't done.
[ + ] Crackinjokes
[ - ] Crackinjokes [op] -1 points 10 monthsAug 5, 2024 15:55:12 ago (+0/-1)
[ + ] Salacious_Salicylic
[ - ] Salacious_Salicylic 0 points 10 monthsAug 5, 2024 17:46:02 ago (+0/-0)
[ + ] John_doe
[ - ] John_doe 0 points 10 monthsAug 5, 2024 12:30:40 ago (+0/-0)
[ + ] Crackinjokes
[ - ] Crackinjokes [op] 0 points 10 monthsAug 5, 2024 15:56:07 ago (+0/-0)